Keepin' It Real  

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  • Alex Pettee, CFA

Real Estate Weekly: REITs Extend Rally To 7 Straight Weeks, Homebuilders Continue Surge

  • For full report, click here to visit SeekingAlpha!

  • Everything is going right for real estate in 2019. REITs eked out another weekly gain, the seventh in a row, pushed into positive territory in the final minute of trading.

  • The broader equity indexes are no slouch either. The Dow has climbed for nine straight weeks, capping off the strongest start to a year in more than three decades.

  • Homebuilders jumped another 2% on the week, pushing their 2019 surge to more than 17%. The pullback in mortgage rates continues to fuel rising optimism across the sector.

  • Real estate technology was the strongest performing sector within the housing industry following strong results from Zillow. The firm pushed ahead on ambitious plans to offer multi-faceted housing services.

  • Housing data was mixed this week. Existing home sales came in shy of estimates, but homebuilder sentiment climbed for the second straight month as mortgage rates remain near 52-week lows.



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